African Development Bank Raised Record $11 Billion for African Development Fund (ADF) from 43 Partners for 17th Replenishment (ADF-17) Including $2 Billion from OPEC Fund for International Development, $800 Million from Arab Bank for Economic Development in Africa (BADEA) & $182.7 Million from 19 African Countries, $11 Billion ADF-17 Will Support 17-Low Income & Fragile African Countries
18th December | Hong Kong
The African Development Bank has raised a record $11 billion for the African Development Fund (ADF) from 43 partners for the 17th Replenishment (ADF-17), including $2 billion from OPEC Fund for International Development, $800 million from Arab Bank for Economic Development in Africa (BADEA) & $182.7 million from 19 African countries. The $11 billion raised for ADF-17 will support 17-low income & fragile African countries. African Development Fund – Established in 1972, the African Development Fund has provided more than $45 billion in grants, concessional loans, and guarantees to Africa’s lowest-income countries. It remains a cornerstone of African-led multilateral development finance and a central instrument of the African Development Bank Group’s mission to drive inclusive and sustainable growth across the continent. African Development Bank Group – The African Development Bank Group’s mission is to help reduce poverty, improve living conditions for Africans and mobilize resources for the continent’s economic and social development. With this objective in mind, the institution aims at assisting African countries – individually and collectively – in their efforts to achieve sustainable economic development and social progress. Combating poverty is at the heart of the continent’s efforts to attain sustainable economic growth. To this end, the Bank seeks to stimulate and mobilize internal and external resources to promote investments as well as provide its regional member countries with technical and financial assistance.
“ African Development Bank Raised Record $11 Billion for African Development Fund (ADF) from 43 Partners for 17th Replenishment (ADF-17) Including $2 Billion from OPEC Fund for International Development, $800 Million from Arab Bank for Economic Development in Africa (BADEA) & $182.7 Million from 19 African Countries, $11 Billion ADF-17 Will Support 17-Low Income & Fragile African Countries “
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African Development Bank Raised Record $11 Billion for African Development Fund (ADF) from 43 Partners for 17th Replenishment (ADF-17) Including $2 Billion from OPEC Fund for International Development, $800 Million from Arab Bank for Economic Development in Africa (BADEA) & $182.7 Million from 19 African Countries, $11 Billion ADF-17 Will Support 17-Low Income & Fragile African Countries
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